Amy Simon Sells 7,157 Shares of Beam Therapeutics Inc. (NASDAQ:BEAM) Stock

Beam Therapeutics Inc. (NASDAQ:BEAMGet Free Report) insider Amy Simon sold 7,157 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $32.13, for a total value of $229,954.41. Following the completion of the transaction, the insider now directly owns 86,590 shares of the company’s stock, valued at $2,782,136.70. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Beam Therapeutics Trading Down 2.8 %

NASDAQ BEAM opened at $29.68 on Thursday. The stock’s 50 day moving average is $32.97 and its two-hundred day moving average is $27.82. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -15.62 and a beta of 1.77. Beam Therapeutics Inc. has a 1-year low of $16.95 and a 1-year high of $49.50.

Beam Therapeutics (NASDAQ:BEAMGet Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $2.42. Beam Therapeutics had a negative net margin of 35.09% and a negative return on equity of 15.90%. The company had revenue of $316.20 million during the quarter, compared to analysts’ expectations of $34.16 million. During the same quarter in the previous year, the company posted ($0.54) earnings per share. Beam Therapeutics’s quarterly revenue was up 1481.0% compared to the same quarter last year. On average, analysts predict that Beam Therapeutics Inc. will post -5.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays increased their target price on Beam Therapeutics from $26.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. upgraded Beam Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the company from $38.00 to $40.00 in a report on Monday, January 29th. BMO Capital Markets reiterated an “outperform” rating and set a $57.00 target price on shares of Beam Therapeutics in a report on Wednesday, March 27th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 target price (down previously from $75.00) on shares of Beam Therapeutics in a report on Friday, December 8th. Finally, Royal Bank of Canada raised their price objective on Beam Therapeutics from $27.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 28th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Beam Therapeutics currently has an average rating of “Hold” and a consensus target price of $41.00.

View Our Latest Stock Report on Beam Therapeutics

Hedge Funds Weigh In On Beam Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEAM. Comerica Bank boosted its stake in Beam Therapeutics by 80.9% in the 4th quarter. Comerica Bank now owns 973 shares of the company’s stock worth $26,000 after purchasing an additional 435 shares during the period. Allworth Financial LP boosted its stake in Beam Therapeutics by 163.7% in the 3rd quarter. Allworth Financial LP now owns 1,105 shares of the company’s stock worth $27,000 after purchasing an additional 686 shares during the period. First Horizon Advisors Inc. boosted its stake in Beam Therapeutics by 125.9% in the 4th quarter. First Horizon Advisors Inc. now owns 994 shares of the company’s stock worth $27,000 after purchasing an additional 554 shares during the period. Point72 Middle East FZE acquired a new position in Beam Therapeutics in the 4th quarter worth $35,000. Finally, National Bank of Canada FI boosted its stake in Beam Therapeutics by 200.0% in the 4th quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $41,000 after purchasing an additional 1,000 shares during the period. 99.68% of the stock is owned by institutional investors and hedge funds.

Beam Therapeutics Company Profile

(Get Free Report)

Beam Therapeutics Inc, a biotechnology company, engages in the development of precision genetic medicines for patients suffering from serious diseases in the United States. It develops BEAM-101 for the treatment of sickle cell disease or beta-thalassemia; and BEAM-302, a liver-targeting LNP formulation to treat severe alpha-1 antitrypsin deficiency; BEAM-201, an anti-CD7 CAR-T product candidate, which is in Phase 1/2 clinical trials for the treatment of refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma; and BEAM-301, a liver-targeting LNP formulation for the treatment of glycogen storage disease 1a.

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Insider Buying and Selling by Quarter for Beam Therapeutics (NASDAQ:BEAM)

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